The Confederation of British Industry issued a revised economic forecast for the UK on Wednesday, now forecasting that the British economy will grow by 1.9 percent this year and by 2.2 percent next year.
These predictions are well below the UK government’s forecasts, issued in April, which stand at growth of 3 percent to […]

The release of the minutes of the Bank of England monetary policy committee meeting minutes from their most recent meeting show that the committee approved this month’s UK interest rate cut by a close 5 to 4 vote.
The majority who voted for the rate cut argued that confidence would be damaged if the […]

Businesses in Central London are apparently suffering from July’s terrorist attacks, as retail sales in shops there fell by 9 percent in July, according to a report by the British Retail Consortium.
The decline in London retail sales contributed to a decline of 1.9 percent in retails sales in the UK.
Excluding London […]

British Airways resumed flights out of Heathrow Airport in London on Friday after the cancellation of over 620 flights in a two day period due to a dispute with a catering company that supplies the airline there.
The airline hopes to get 31 flights, both short-distance and long-haul, out of the airport by midnight […]

The London equities markets closed in positive territory on Wednesday as the FTSE 100 gained 0.3 percent to 5,377.5 and the FTSE 250 was up 0.4 percent to 7,734.6 on a volume of 2.8 billion shares traded.
Life assurers saw advances in share value. South Africa-based life assurers Old Mutual gained 2.5 percent to […]

The biggest airport operator in the UK said on Wednesday that July passenger volumes were up despite an impact from the London bombings kept some passengers at home.
BAA Plc, which operates seven airports including Gatwick and Heathrow, said that passenger traffic grew by 2.6 percent in July compared to the same month last […]

Figure show that exports from the UK to non-European countries were up sharply in June. The Office for National Statistics, however, has said that the official figures might have to be revised if it is found that they are inflated to VAT fraud.
As reported, official data shows a rise of 15 percent […]

Shares in UK biotechnology company Acambis rose by over three percent on Thursday on the news that the company is in the process of developing a new flu vaccine that could give lifetime protection from all strains of the flu.
If the new vaccine is successful it would be a significant breakthrough at a […]

In London on Wednesday, the FTSE 100 gained 0.1 percent to close at 5,332.3 after having fallen 23 points early. Meanwhile the FTSE 250 managed another all-time high, gaining 0.5 percent to 7,675.4. 2.7 billion shares were traded on the day.
The mining sector was key in the day’s gains. Shares in […]

Most analysts expect that the Bank of England’s monetary policy committee will cut UK interest rates from 4.75 percent to 4.5 percent when it meets on Thursday. However, the move is not seen as the beginning of a series of declines in rates but more as a “fine-tuning” of the economy, according to one […]